November 12th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday played out about how we expected.
The DJ-30 hitting out upside trendline target of 10340 area.
And the SP-500 and QQQQ making double tops;
With the IWM, Russell 2000, failing the daily 50 Simple moving average, SMA.
This price action today leads me to believe we have put in another topping action that should send [...]
November 10th, 2009 by jsfalvo | Comments
Per David Elliott :
MONDAY, NOVEMBER 9TH¡¯S MARKET UPDATE.
Friday I said, My reversal of a bear position, at this time, would be a move over Thursday’s Index highs.
So we made new highs Friday without correcting back to our breakdown targets.
This erased my bear position and made me a bull, until we get a signal ending this [...]
November 5th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday saw most, if not all, our upside targets hit for the Index markets as well as for our stock targets.
The SP-500 and the QQQQ, both retested their 50 SMA and failed.
We call that price pattern an IHF, “Ice Hole Failure”. Typically that pattern resolves itself into taking out the most recent [...]
November 4th, 2009 by jsfalvo | Comments
Per David Elliott :
The market made the expected positive move for the SP-500 and QQQQ, with the DJ-30 closing down just 17 points.
It was mostly a quiet choppy day for the day traders.
I am still very short term, tentative, bullish. As I believe we are in a wave two bounce from the market top we [...]
November 2nd, 2009 by jsfalvo | Comments
Per David Elliott :
Friday saw the dip we were expecting, BUT it was far bigger than I expected.
Fact is it reversed all of Thursday’s market pop and making a new low for the last two weeks for the DJ-30, QQQQ, and SP-500.
YM futures on the DJ-30 are now bouncing off the 50 SMA suggest another [...]
October 30th, 2009 by jsfalvo | Comments
Might I add that David has been spot on as usual.
Per David Elliott :
Take a picture of this last market move and reversal and attach our rational for the reversal bounce. Yesterday played perfectly into the technicals for a reversal.
Today I am looking for some early morning market dip to some intra day market supports [...]
October 29th, 2009 by theequilibrium | Comments
Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
S&P500 Index -60 min- range breaks often lead to fast moves- would expect a bounce- possibly finding a lower high
daily- trend lines were made to be broken- lots of support on multiple time frames above July low
S&P500 Index – weekly- H&S target still very [...]
October 27th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday we said, Friday’s market reversed most of the gains from Thursday. This candlestick pattern with two large red candles with a green day in the middle usually resolves to the down side at market tops. I call it the ice cream sandwich candle pattern for down moves.
Yes, ice cream sandwiches were my [...]
October 26th, 2009 by jsfalvo | Comments
Per David Elliott :
Friday’s market reversed most of the gains from Thursday.
This candlestick pattern with two large red candles with a green day in the middle usually resolves to the down side at market tops.
I call it the ice cream sandwich candle pattern for down moves.
Again it is important for any market sell-off to see [...]
October 22nd, 2009 by jsfalvo | Comments
Per David Elliott :
Our comments of sellers at yesterday’s highs, was again tested today, and found more sellers, enough to give the DJ-30 a market swing of 176 points from a new DJ high to the low.
This market swing created another Key Reversal signal on the Daily, and a Bear Engulfing pattern on the 2 day charts for [...]
